Canada produces 58,300 jobs in April
58,300 new jobs push unemployment rate to 7.6%
Canada's unemployment rate slipped 0.1 percentage points in April to 7.6 per cent as the economy added 58,300 jobs, Statistics Canada reported Friday.
With the gain, full-time employment has returned to its level in October 2008, when the recession was starting.
Part-time work accounted for the bulk of the employment growth, with 41,100 positions added. About 17,200 full-time jobs were created last month.
April's job-creation numbers topped the 22,500 that economists had been expecting.
Employment in Ontario rose by 55,000 jobs in April, driven by the addition of 46,000 part-time jobs. The province's unemployment rate declined by 0.2 percentage points to 7.9 per cent, its lowest level since December 2008.
Newfoundland and Labrador added 3,100 jobs, For April, the unemployment rate fell by 1.3 percentage points to 11.1 per cent, the province's lowest rate since 1976, when comparable data became available.
Employment slipped by 5,500 in Nova Scotia and by 3,300 in Manitoba —and there was little change in the remaining provinces.
While the job gains were good, economists are looking for an uptick in incomes to have a larger impact on the economy.
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"Real wage gains remain very flat in Canada which is hardly bullish for consumption" Scotiabank economists Karen Cordes Woods and Derek Holt said in a commentary.
Statistics Canada said there were job gains in the finance, insurance, real estate and leasing sector, as well as in business, building and other support services in April. Employment was essentially unchanged in the other industries.
Almost every major goods-producing industry shed workers in April, with only forestry & fishing posting a gain of 6,600 for the month.
"The strong headline gain generally stands up to scrutiny," Woods and Holt said.